Why Is MMTEC (MTC) Stock Up 59% Today?

MMTEC (NASDAQ:MTC) stock is taking off on Thursday without any clear news from the internet-based technology services and solutions company.

There’s no news directly from the company this morning that explains the rally. That includes a lack of press releases, as well as no filings with the U.S. Securities and Exchange Commission (SEC) to speak of.

What is happening is the incredibly heavy trading of MTC stock this morning. As of pre-market trading, more than 4.4 million shares of the company’s stock have changed hands. That’s a massive surge compared to its daily average trading volume of 652,000 shares.

MTC Stock Continues A Rally

Investors will also note that this isn’t the first day of MTC stock rallying under heavy trading. It also jumped 37.4% higher on Wednesday. That came alongside nearly 1.9 million shares changing hands in normal trading hours.

It’s also worth keeping in mind that MTC is a penny stock. The company’s shares were trading at $1.58 per share when markets closed on Wednesday. It also has a low market capitalization of $4.956 million. This makes it susceptible to volatility.

MMTEC offers up solutions and services to a variety of businesses in China. That includes many financial firms, such as hedge funds, mutual funds, trading groups, and more in the country.

MTC stock is up 58.9% as of Thursday’s pre-market trading.

Investors can find more of the latest stock market happenings below!

We’ve got all the latest news moving the stock market on Thursday! Among that is what has shares of Biophytis (NASDAQ:BPTS) rising, today’s biggest pre-market stock movers, and more. You can read up on all that news at the following links!

More Thursday Stock Market News

• Why Is Biophytis (BPTS) Stock Up 42% Today?
• Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
• 5 Investors Betting Big on First Solar (FSLR) Stock in 2023

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed

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